Samsung to restructure into two operating divisions

ChrisOliver

HONG KONG (MarketWatch) -- South Korea's Samsung Electronics
SSNGY, +0.00%
said Friday it will restructure into two operating divisions, according to a published report. The units will focus, respectively, upon consumer products and electronic components such as memory chips and displays. The changes will see Chief Executive Lee Yoon-woo oversee the components division, while Choi Gee-sung, who currently heads up the company's cell phone operations, will be reassigned to the consumer products division, Dow Jones Newswires reported, citing a company statement. The change reportedly addresses a key operational challenge faced by Samsung, which runs a consumer products division but also supplies components to companies which are competitors to that business.

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